[THE INVESTOR] The deadline for applying for Korea’s first auction for high-end 5G network frequencies is set for next week, the ICT ministry said on June 1.

The Ministry of Science and ICT said the country’s three mobile carriers -- SK Telecom, KT and LG Uplus -- are set to submit their applications on June4 for an auction scheduled to take place on June 15.

Industry insiders said that the three firms are fine-tuning their final tactics as the government plans to limit their bidding amount to stop the auction from becoming too competitive.

Ministry officials said the allocation of the new frequencies could expedite the commercialization of 5G technology, currently slated to start next March.

The mobile carriers are setting their eyes on the 3.5 GHz wavelength, which can provide better service at longer distances.

This allows fewer relay stations to be built when setting up a nationwide network.

The 28 GHz spectrum, on the other hand, is capable of transmitting high-capacity data at a faster speed, but mobile carriers need to establish more signal stations due to its shorter reach. It is expected to be utilized for business-to-business solutions.